Entrepreneurial Opportunity for Fresh Mart Company

This report analyses the micro and macro market area, industry, and team aspects of Fresh Mart Company, providing fresh and pure juices in the UK market. It includes a PESTEL analysis, Porter's Five Forces, and VRIO analysis, along with critical success factors and value chain analysis.

Entrepreneurial opportunity

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Market – micro – Target Market Segment..................................................................................1
Market – macro – PESTEL Analysis.........................................................................................1
Industry – macro – Porters Five Forces.......................................................................................2
Industry – micro – VRIO(Sustainable Competitive advantage)..................................................2
Team – Mission, aspiration, risk propensity................................................................................2
Team – Can you and your team execute?....................................................................................3
Team – your connections matter..................................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................4

INTRODUCTION
It is crucial for an entrepreneurial to determine and analyse different aspects in order to
successfully conduct business practices. there are different opportunities for growth and
development that will help in enhancing performance of organisation. This report is based on
Fresh Mart company (Wood and McKinley, 2020). This organisation is providing different types
of fresh and pure juices. Its products and services are made up of fresh fruits and vegetables
along with pure ingredients are used. This report includes information regarding micro and
macro market area. Micro and macro industry has been analysed along with crucial elements of
team.
MAIN BODY
Market – micro – Target Market Segment
Micro market area can be describe as business sector which is targeting smaller market
area in order to provide its products and service. It is essential for Fresh Mart company to
segment and target its customers for offering its services. respective company is targeting
customers who are health and fitness conscious. Its products are significant for resolving health
related issues and enhancing overall fitness. The products of Fresh Mart does not include sugar
so it is beneficial for customers (Camelo-Ordaz and et.al, 2020). Fresh mart is offering high
quality products and services in very affordable price that will assist in enhancing its sales. The
segment of age group between 10 to 60 will be benefits from respective company offering.
Market – macro – PESTEL Analysis
UK retail industry is providing different kinds of food, clothing and other products in
order to meet with the needs of customers. Fresh Mart is seeking to provide its products and
services to the customers of UK market area. This market is growing very fast as there is high
demand of sugar free and health products that is significant for improving overall health
condition of individuals. There are different elements of macro market environment that will lead
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to have significant impact of Fresh Mart company. New and innovative technology will assist
respective company to effectively conduct business practices. social factor will lead to have
positive influence as customer have more trust on fresh or organic products.
Industry – macro – Porters Five Forces
Fresh Mart is conducting its business practices in retail industry. This is one of the largest
industry of UK. It is easy for respective company to enter into this industry and significantly
conduct business practices. There are large number of suppliers which reduces the power of
supplier to set terms and conditions. In this buyers has moderate power to set terms and
conditions (Reuschke, Mason and Syrett, 2021). There are different types of products and
services related to the offering of Fresh Mart so it is easy to substitute product in market. There
are several companies conducting its practices in retail market area so it has intense rivalry.
Industry – micro – VRIO(Sustainable Competitive advantage)
Fresh Mart company possess proprietary elements that other firms cannot imitate or duplicate.
Yes, respective business can develop and employ superior organisational processes, capabilities
or resources. As per customer’s perspective Fresh Mart company needs to increase the range of
offering in order to provide better faster and cheaper products as compare to rival companies.
Yes, the business model of Fresh Mart is economically sustainable and it will not run out of cash
quickly.
Team – Mission, aspiration, risk propensity
Mission statement – Mission of Fresh Mart organisation is to provide high quality
products and services to customer at affordable rate.
Entrepreneurial mission is to increase profitability and performance of business by
meeting needs of customer (Bao, Wei and Di Benedetto, 2020). Improving health and fitness of
customers is the level of aspiration of Fresh Mart entrepreneurial dream. This organisation is not
willing to take financial risk that lead to affect overall functioning of business. The mission,
aspiration and risk propensity will assist in attract large number of customers towards fresh and
healthy products and services of Fresh Mart.
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Team – Can you and your team execute?
CSF is refer as critical success factor which lead to have impact over success of
organisation. Critical success factor for respective company is to increase customer satisfaction
level by providing high quality products and services. Fresh Mart team can successfully execute
on the critical success factor by determining needs and requirements of customer. Respective
company is able to full fill the requirements of customer by identifying need. This organisation is
not well prepared to improve marketing strategies critical success factor. It is important for
respective company to improve marketing strategies in order to successfully attract more and
more customers towards business.
Team – your connections matter
Value chain can be describe as the full range of activities which is needed to create a
products and service. The main purpose of value chain is to successfully increase production
efficiency of business by deliver maximum value (Clausen, 2020). The competitors and
substitutes of respective organisation is different business which is providing fresh and organic
products to customers. The key gap in respective team connection is lack of skills and
capabilities. There are different team member which have different knowledge and potential that
directly affect performance of business. This gap will lead to have negative impact over
capabilities of employee to develop effective connection and perform business practices. In order
to full fill this gap respective organisation needs to provide appropriate training and development
so that respective company is able to develop effective connection.
CONCLUSION
From the above report it has been analysed that there are different elements and aspects
which are associated with successful and effective functioning of business. Micro and macro
business market needs to be correctly analysed by organisation in order to take correct decisions.
It has been analysed that PESTEL analysis and poster five forces will lead to have major
influence over effective performance. There are different opportunities to business such as
considering new technology for effectively conducting business task. The major risk that is
involved is related to financial as well as risk of rival companies.
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REFERENCES
Books and Journals
Wood, M.S. and McKinley, W., 2020. The entrepreneurial opportunity construct: dislodge or
leverage?. Academy of Management Perspectives, 34(3), pp.352-365.
Camelo-Ordaz, C., and et.al, 2020. Recognition of entrepreneurial opportunity using a socio-
cognitive approach. International Small Business Journal, 38(8), pp.718-745.
Reuschke, D., Mason, C. and Syrett, S., 2021. Digital futures of small businesses and
entrepreneurial opportunity. Futures, 128, p.102714.
Bao, Y., Wei, Z. and Di Benedetto, A., 2020. Identifying the tacit entrepreneurial opportunity of
latent customer needs in an emerging economy: The effects of experiential market learning
versus vicarious market learning. Strategic Entrepreneurship Journal, 14(3), pp.444-469.
Clausen, T.H., 2020. Entrepreneurial thinking and action in opportunity development: A
conceptual process model. International Small Business Journal, 38(1), pp.21-40.
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